Law Firm Accounting Services

Precision Accounting for Legal Professionals

At Toran Accounting, we help law firms and solo attorneys navigate complex financial terrain with confidence. Our services are built around compliance, clarity, and strategic insight—so you can focus on the law while we handle the numbers.

The Financial Realities of the Legal Industry

Legal professionals face unique financial challenges that differ from most other service businesses. We understand the nuances of:

Trust Accounting and Compliance

Law firms must adhere to strict rules about client funds. We help firms:

Reconcile IOLTA and trust accounts accurately
Maintain compliant client ledger balances
Prepare audit-ready trust reports

Irregular Cash Flow

Legal practices often experience inconsistent income due to long case cycles or contingent billing models. We help with cash flow forecasting and financial strategies to help smooth income and protect liquidity.

Complex Billing Structures

Whether it’s hourly billing, retainers, flat fees, or contingency arrangements, legal billing can be intricate. We help implement systems that simplify:

Time tracking and invoicing
Retainer management
Collections and A/R monitoring

Growth Without Financial Overhead

Hiring a full-time CFO or internal finance team may be unrealistic for solo attorneys or small firms. We deliver CFO-level insights at a fraction of the cost—scaling with you as you grow.

Tax Complexity

Law firms must manage both business and personal tax implications, including:

Pass-through taxation
Partner distributions
Quarterly estimates
Multistate compliance

We handle it all, so you don’t have to.

Supporting Your Firm's Goals

Whether you're a solo attorney or managing a growing team, you deserve financial systems that are compliant, strategic, and tailored to your workflow. Toran helps legal professionals:

Clean up and maintain trust account records
Generate accurate financial statements and KPIs
Implement efficient billing workflows
Reduce tax surprises and create a proactive plan
Regain peace of mind and focus on practicing law

Law-Focused Tax Strategies

Entity Structure Optimization: S-Corp vs. partnership vs. PLLC? We help you analyze the tax structure that works best for your goals.
Retirement Planning: SEP IRAs, 401(k)s, and profit-sharing plans that lower your taxable income.
Section 179 Deductions: Write off qualifying software, tech, or office upgrades.
Home Office Deductions: For solo attorneys and hybrid teams.
SALT Strategies: For firms in high-tax states or with multistate operations.

Our Services for Law Firms

Trust Accounting

Monthly reconciliations
IOLTA and client ledger maintenance
Compliance reporting for audits

Bookkeeping and Reporting

Revenue and expense tracking
Monthly financial reports
KPI dashboards for partner insight

Billing & A/R Support

Time tracking system setup
Invoice workflows
Collections management

Strategic Tax & CFO Services

Tax prep and quarterly planning
Partner compensation strategy
Cash flow modeling
Scalable CFO advisory sessions

Why Legal Professionals Trust Toran

We Know Law Firms: Our team understands the the demands of legal finance.

We Scale with You: From solo practices to growing teams, we flex to your size and needs.

We Speak Plain English: No accounting jargon—just clear advice that helps you make better decisions.

We Help You Sleep at Night: You’ll know your trust accounts are clean, your taxes are covered, and your books are accurate.

What Makes Toran Different

We’re not just accountants—we’re strategic partners. Our work helps attorneys reduce stress, improve profitability, and spend less time buried in spreadsheets.

We understand that every hour spent on finances is an hour not spent advocating for clients. We give that time back.

Learn About Toran Accounting

Let’s Bring Order to Your Books

When your firm is growing, compliance and clarity can’t be optional. With Toran Accounting on your side, you get:

Audit-proof trust compliance
Smart tax planning
Real-time financial insight
Peace of mind

Reach out today for a free consultation

"Your Business, Buttoned-Up. Your Life, Uninterrupted."

Toran Accounting. Precision Where It Matters Most.